In the formulation segment, the company designs and develops products for various global markets, including the US and Europe.

"The company aims to develop cost-effective processes to manufacture bulk drugs for export markets and for local consumption.

"The R&D centers at Jogeshwari in Mumbai and Roha in Maharashtra will carry out research and development in reducing the cycle time of processes, thus making the processes more efficient and cost-effective.

He added that the company's R&D center stays up-to-date with quality systems and cGMP processes. Some of these changes in processes have resulted in launching of new products, improvement in yield and cost efficiency, he said.

The company is also in the process of having the area inspected by CDSCO and state FDA in order to manufacture clinical grade material in the new R&D biotech process area, he added.

The primary focus is to create a basket of products which will generate high value and revenues for sustainable growth.

During 2015-16, it launched 'Enerzal' in PET bottle in orange and apple flavours.

It is also looking at developing other products in the nutraceutical space.

The domestic formulations business recorded a growth of 10.37 per cent at Rs 863.35 crore in 2015-16.

FDC's annual export turnover registered a growth of 15.76 per cent at Rs 130.96 crore for the financial year ended March 31, 2016.

The company has built a visible presence across markets in Europe, US, Asia, Africa, Latin America and Confederation of Independent States (CIS).

"We have made significant investments to build capabilities in API manufacturing and R&D services.

"With approvals by the US-FDA, MCC-South Africa, UK-MHRA and PIC/S Malaysia, FDC has emerged as a preferred partner for APIs and formulations in many developed and developing pharmaceutical markets," he added.

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